As drought continues across America, President Obama and I continue doing all we can to help producers. In addition to the actions we’ve already taken, we will continue to call on Congress to pass a Food, Farm and Jobs Bill that gives USDA more tools to help, while providing more certainty for our producers.
Throughout this disaster, USDA has worked hard to offer emergency access to credit for farmers and ranchers.
In the early days of the drought, USDA acted to lower the interest rate for FSA Emergency Loans from 3.75 percent to 2.25 percent. This week, USDA announced that we will modify emergency loans by allowing loans to be made earlier in the season – helping livestock producers to offset increased feed costs, as well as those who have liquidated herds.